ID :
78240
Thu, 09/03/2009 - 23:19
Auther :
Shortlink :
https://www.oananews.org//node/78240
The shortlink copeid
BI TO KEEP MONITORING BANK INTEREST RATES ON DEPOSITS
Jakarta, Sept 3 (ANTARA) - Bank Indonesia (BI) will keep monitoring commercial banks' commitment to limit their interest rates on deposits to a maximum of eight percent, a spokesperson said.
Keeping a lid on interest rates on deposits would encourage distribution of bank credits and the lowering of the lending rate, Dyah NK, BI's director for strategic planning and public relations, said here Thursday.
Therefore, she said, BI would keep monitoring progress in the commercial banks' commitment while taking steps to increase banking efficiency in order to push interest on bank loans down.
On August 20, 2009, as many as 14 commercial banks agreed to lower their interest rates on deposits to eight percent and down to seven percent after December 2009 while scrapping special interest rates.
The agreement was reached in order to adjust the interest rates on third party funds with the BI rate.
The lowering of interest rates on DPKs, she said, would result in the reduction of the lending rate. With a high degree of credit distribution, the real sector would be stimulated to develop faster.
In the monetary sector, Dyah said, BI would ensure the availability of banks' liquidity and anticipate an increase in banks' liquidity needs with the expansion of credit distribution.
To maintain banks' liquidity, Dyah said, BI would provide repurchase agreement (REPO) transactions with three months tenor aside from the available ones starting on Monday, Sept 7, 2009.
BI would also keep monitoring the economic situation both at home and globally. The central bank would also take all steps necessary to maintain macro-economic stability by preserving a conducive situation for the national economy.
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Keeping a lid on interest rates on deposits would encourage distribution of bank credits and the lowering of the lending rate, Dyah NK, BI's director for strategic planning and public relations, said here Thursday.
Therefore, she said, BI would keep monitoring progress in the commercial banks' commitment while taking steps to increase banking efficiency in order to push interest on bank loans down.
On August 20, 2009, as many as 14 commercial banks agreed to lower their interest rates on deposits to eight percent and down to seven percent after December 2009 while scrapping special interest rates.
The agreement was reached in order to adjust the interest rates on third party funds with the BI rate.
The lowering of interest rates on DPKs, she said, would result in the reduction of the lending rate. With a high degree of credit distribution, the real sector would be stimulated to develop faster.
In the monetary sector, Dyah said, BI would ensure the availability of banks' liquidity and anticipate an increase in banks' liquidity needs with the expansion of credit distribution.
To maintain banks' liquidity, Dyah said, BI would provide repurchase agreement (REPO) transactions with three months tenor aside from the available ones starting on Monday, Sept 7, 2009.
BI would also keep monitoring the economic situation both at home and globally. The central bank would also take all steps necessary to maintain macro-economic stability by preserving a conducive situation for the national economy.
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